I can understand buying rare(ish) coins and coins on ebay that attract a collector rarity premium, but why would anyone buy regular bars and coins on ebay? e.g. http://www.ebay.com.au/itm/1-x-10-oz-silver-bar-NTR-minted-99-9-pure-/291145965856 8 people bought these 10oz NTR bars and paid $57 per 10oz more than the exact same seller sells on their web store directly. http://www.perthbullion.com/shop/detail/ntrsbo10/ *** EDIT: Doh, I just noticed the Make An Offer button. Ok then, can't delete this post, so I'll leave it open for discussion, a lot of regular bars and coins still go for crazy prices. I understand why the sellers have to charge so much on ebay, the ebay+paypal fees are a killer, but why would a buyer buy on ebay?? I know about the Ebay/PayPal buyer protection, but that's of no advantage when you are buying from an authorised dealer. Are there this many dumb/lazy people who can't google the price of the bar elsewhere? Heck they don't even have to google it, the website is plastered over the ebay ad Granted, I've sold a lot of stuff (not metals) on ebay that's gone for crazy prices...
Maybe it was an international buyer with a 5x eBay Bucks Bonus Offer (earning 10% off, which isn't applicable to their home-country listing), and/or using up some already-earned eBay Bucks? Sometimes international shipping is also cheaper thru eBay than at the dealer site, for whatever reason. Not to mention perhaps a 3% surcharge on PayPal pricing at the dealer site, which you might need to take into account. Admittedly, I've done this a few times as an international buyer. Run all the numbers in both scenarios, and sometimes you can actually save a few bucks via eBay compared to going thru the dealer's online store. Doesn't happen often, but it has happened. (Then again, not for something like NTR bars, which odds are I could get comparatively cheaper here in the US.) Just one possibility, anyway. Maybe just an Aussie buyer with eBay Bucks to burn who also made a low-ball offer? Not all eBay transactions are what they appear to be, given the above..
I've got silver coins cheaper through eBay than using the dealer's site before. In the flip side, it was also how I found this dealer in Estonia... And he got more buys off me over time.
I think a lot of people find ebay reassuring. I'm a bargain hunter and gave had maybe half a dozen good hits in the last 6 months. The half oz gold Canadian proof for around 20% under spot was a real doozy but then it's uni holidays so I have time to talk through 5k listings for one decent deal. I've also found that finding an ok deal from a seller who has a separate online shop and asking for a non ebay price on the item works. To avoid breaking ebay rules I just ask if they gave a shop and them cigar them through there about pricing. Using it as a regular spot for buying regular bars? Not so much. I see deals all the time where I think if it weren't for that 10% it would be a bargain but it's as fixed as the pitiless sun.
I put things on a watch list and put in a sniper bid on items of interest. Have picked up many nice bullion coins at below spot over the years. You have to put in a fair bit of time to search though.
I've picked up most of my gold pesos and francs on ebay and paid spot or less for most of them. There are good deals if you look. Also even if there is no "Best Offer" button you can email the seller and ask. What I can never figure out is why people get in bidding wars for bullion coins from a dealer who has a "Buy it" listing for the same coin at a lower price?!? I can see why the dealer puts those up but I have no idea why buyers fall for that. Dumb auction frenzy I guess?
The few who sell at excessive price can pull it off . That does not mean the buyer eventually does not figure it was a bad deal but it's to late 4 years ago I was all into bars of all sorts of metal well I was going strong , 4 gram 1 gram a month later i had $80 worth of copper brass zinc nickel yada yada in grams It was like what the heck did I buy . I put it back on E bay and sold it to some one I bet also said what the heck did I buy . I also cornered the market on German Silver - that I also resold Now some sellers (but not all ) say with earnest , German silver is not silver and 1 gram is not 1 ounce what a deal http://www.ebay.com/itm/UNC-999-PUR...112298?pt=US_Other_Metals&hash=item563ed19dea http://www.ebay.com/itm/5-Bullion-B...141091?pt=US_Other_Metals&hash=item418d28e263 But if you had some knowledge at least this is a better deal then .999 brass or the multi batch http://www.jmbullion.com/1-10-oz-walking-liberty-silver-round/ http://www.jmbullion.com/1-4-oz-walking-liberty-silver-round/ Wile this is a different subject and I do hold copper with respect as I have sold plenty of found free scrap copper and it's ok to hoard some bullion for the heck . My view is all in all there is plenty of copper to be found & same money for silver is a better investment silver is just as usable possibly more important then copper industrially on some items.
You cant always get what you want from dealers and forums even the stuff that isnt rare or highly collectable. also many even on this forum judge their selling prices on well over priced ebay items but fail to take into account the same items that sold for much less. Buy PM,s on ebay at auction only, sell on ebay with inflated buy it now price and accept a slightly lower offer which makes the buyer think they are getting a good deal or they wouldnt have offered the price. I suspect many ebay buyers have no knowledge of online bullion stores and many are just buying a one off, if my wife bought me a silver coin as a gift she would go to ebay. By the way I dont sell PM,s on ebay or anywhere but I know how it works on ebay.
Under the right conditions, I have found that one can get the best price on eBay for certain bars and rounds. Therefore, I have purchased some generic bars and rounds on eBay and saved money compared to if buying from the biggest, lowest cost dealer in the U.S. for the same or similar product. Keep an open mind is the name of the game. .
I have had some luck on ebay, I don't use it anymore bit I had a run of buying ounces at only 1$ over spot, guy advertised in wrong area and I snuffled them all. Lame JM freedom of series though..
most dealers doensnt shipp to my country so I have to buy from ebay. thats the main reason. other is most dealers who shipp to my country write real value on package, and customs tax me about 25% tax. so ebay is most convinient way to buy gold or silver in third-wolrd countries like mine. we have no bullion market, there are no shops here where I can buy modern bullions.
So in summary: You can occasionally find a bargain BUT the opposite also happens - I've seen sets (Bradbury) where the gold coin was swapped for a cheaper coin, for example People want to get shot of things, and cannot be bothered to check the value BUT sometimes plead ignorance and advertise brass as gold ..and sometimes there are promotional eBay offers that get PMs to spot if they are classified in the right category. I too have purchased under spot. Don't get in a bidding war, do know what you are prepared to pay, do your homework and watch your assumptions - and be prepared to lose it at the last second.
Bidding wars are bad because the person who seems to have won the item may withdraw a bid leaving you with your highest bid and winner even though you bid more than you intended and was outbid Many get caught out with this when they get outbid time and time in a bidding war then go off and bid on a similar item only to find out they won the original item and the second. I just bid my max at the end of an auction and if I get sniped then my max wasnt enough.
Just the Ebay machine. I believe it is really an ease of use thing with the safe feeling of paypal protection. Not having to register to another Bullion Website and dealing with credit card/cash/wire transfere price changes. A quick easy way to snag a few ounces. I've purchased a fair amount of metal of ebay but manely from Modern Coin Mart and Apmex. A good way to spend some Ebay bucks or a paypal coupon. I make Ebay purchases alot more when I have 4or5X Ebay bucks promotion. Can score some gold coins under spot that way!
Agreed Dynamite, those eBay bucks can be a very nice incentive and a way to earn free money (which for me always goes back into paying for another silver coin or two purchased on eBay). One word of caution though, bullion and coin dealers or stores that legally charge you sales tax for purchases made directly from them will also charge sales tax for purchases made from them through eBay. It's something some people may not be aware of. .
MCM has same eBay prices, as they do CC prices on their site. In addition, you can also earn eBay Bucks on some of their items. (Not to mention spending them on anything you want.) As for Apmex eBay prices, they do charge a couple extra bucks above their CC site price, at least for Ag -- assuming to help cover the "free shipping" & fees. (From what I've seen, Au eBay prices = site prices.) But going through Apmex eBay might make sense for very small purchases for perhaps harder-to-find stuff, and seems like it fills an important role for those with a small Ag budget. Not as much now with their $99+ free ship, though, but back when they charged $10 USD for shipping (and not to mention $5-6 for Priority-mailing a check for the lower cash price), it was worth it if you run the numbers. Only purchased through Apmex eBay once last year, but it was a weird set of circumstances for a small order, and was definitely cheaper than going through their site at the time, as well as than buying from another dealer.
Can anyone suggest or review eBay sniper tools or applications/websites? It appears they need your name and password. Comments on safety much appreciated.
OP, 2 recent examples: ASE's @ 43 cents USD over spot.. https://www.youtube.com/watch?v=HOqKB8oI_bw [youtube]http://www.youtube.com/watch?v=HOqKB8oI_bw[/youtube] Gold below spot (not to mention Ebates & cash-back CC).. https://www.youtube.com/watch?v=iQlpqL3DB8s [youtube]http://www.youtube.com/watch?v=iQlpqL3DB8s[/youtube]
I've used bidnapper the last couple years on a random basis, whenever I really wanted something. It has won me some bargains but it depends on the amount of people after the item. I think the whole thing of sniping is probably getting old school now ? That said, I still try it every now an then. I think bidnapper gives you a free trial from memory, but then again I signed up years ago.. From my positive experience I would recommend this site. Hope this helps.. Highonsilver
